Petersburg Pilot -

Current Petersburg Pilot subscribers! Your print subscription entitles you to complete access to our new comprehensive website.  Contact Pilot staff for help setting up your account. Not yet a Pilot subcriber? Subscribe online now!

Wells Fargo celebrates 100 years


Wells Fargo is celebrating its centennial in Petersburg Thursday, June 12.

The local Wells Fargo Branch began as The Bank of Petersburg, which was organized in September of 1912 with a capital of $5,000—roughly $121,000 in today’s dollars.

The first cashier and manager, K.L. Steberg, ran the one-man bank for more than two years.

The bank was incorporated in 1914 and the capital was increased to $25,000.

By December 31, 1940, deposits totaled around $582,0000—around $9 million today.

In 1972, The Bank of Petersburg merged and became the Petersburg Branch of the National Bank of Ala...

For access to this article please sign in or subscribe.


Reader Comments


Our Family of Publications Includes:

Powered by ROAR Online Publication Software from Lions Light Corporation
© Copyright 2018